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Thursday, August 18, 2005

Dropping arrested, rebounding now?

Market seems to put on the breaks. Maybe rebound from here. Who knows? Technically has reach the 33% Fibonacci retracement level. IF breaks 935 region, then uptrend continues. If turn back at that region, than a downtrend channel has been formed.

Interesting counters:Quest - Very high buy percentage. Last minute push. Maybe tomorrow more action? Will try to add on position when 0.35 is broken.Tecfast - I have let go this one last week due to inaction, but looks like it is inching up again. Hmm....got potential.Plus-CA - Hard to read this one. Maybe rebound more, maybe continue down. Plus needs to close above 3.26 for positive action.FTEC - Hmmm...still supported by the uptrend channel.Mptech - Bullish reversal candle. Rebound or change of trend?